The Real Deal Los Angeles

Monterey Station lofts in Downtown Pomona sell for $85 million

Clear Capital buys property developed by Realm and Bascom Group
By Subrina Hudson | February 15, 2017 05:41PM

Monterey Station (Monterey Station)

A mixed-use loft community in Downtown Pomona was picked up for $85 million, or $243,553 per unit, Real Capital Analytics shows.

Realm Real Estate and Bascom Group sold the 349-unit property at 120-180 E. Monterey Avenue to Sherman Oaks-based financial firm Clear Capital, RCA shows. The firms did not immediately respond to a request for comment.

The Monterey Station apartment is located across from the Pomona Metro Station and near Western University of Health Sciences.

The 292,288-square-foot building was developed by Realm in 2014 and sits on 6.71 acres, RCA shows.

Dean Zander, Joe Leon and Jeff Rowerdink of Berkadia brokered the sale. The brokers could not be reached for comment.